German securities marketplace Deutsche Boerse and major bank Commerzbank have jointly invested in a new holding company which plans to focus on blockchain technology and digital assets.
Deutsche Boerse announced Thursday that the company and Commerzbank entered a strategic partnership with fintech firm 360X to develop new blockchain-based digital marketplaces and existing real asset classes like art and real estate.
A representative from Deutsche Boerse confirmed to Cointelegraph that Deutsche Borse invested 10 million euros ($12 million) for a stake of about 50% in 360X, while Commerzbank owns a lower double-digit stake.
A Deutsche Boerse spokesperson noted that today’s announcement marks the official launch of 360X as a company, with Deutsche Börse and Commerzbank capitalizing 360X as a new firm as partners. Other participants are the 360X management and other private investors, the representative said.
According to the announcement, 360X will focus on illiquid assets, initially art and real estate. The platform is also intended to support tradeable digital collectibles known as non-fungible